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Grenada Trade Portal

The Ministry of the Economic Development, Trade and Planning.

16 Apr 2018

ST GEORGE’S, GRENADA, 16th April, 2018: Prime Minister Dr. the Rt. Hon Keith Mitchell has begun a series of staff engagement meetings, as part of a policy initiative to create an open forum for staff to be able to freely voice concerns and challenges as they set the tone to deliver on the policies and programs of the new administration.  

Dr. Mitchell will also use the opportunity to solicit an exchange of ideas with all divisions, on the role they will have to play in the new construct of the Ministry of Finance, Planning, Economic Development and Physical Development going forward.

His first engagement welcomed the Division of Economic and Technical Cooperation (DETC), primarily responsible for spearheading Government’s Public Sector Investment Programme (PSIP), as well as technical and economic cooperation with selected regional and international development agencies.

The Prime Minister assured the staff that along with the expectation of optimal staff performance, management is shining the light on the division to address the critical areas of structure reform, leadership, and revitalization of PSIP Operations Committees, with a view to re-position the division to meet its full potential and Government overall objectives.

But most importantly, he said, management is committed to creating the enabling environment for staff to play a more interactive role with other Ministries for Project Management and Implementation.

The Prime Minister in highlighting the importance of staff involvement challenged the DETC staff to “step up to the plate” he said if this process is to succeed everyone must pull their weight. He assured them however, that, government is committed to providing the necessary resources to get the job done.

The DETC staff embraced the new thrust to interact with Management and was very open with expressing their views on the way forward, because they are confident that the division has tremendous potential and together the team can do a great deal to attract Grants and other resources for the country.

Dr. Mitchell said that Grenada is well-poised to benefit from available untapped sources of Grant Funding, especially in the area of the blue economy.

03 Apr 2018

The Caribbean Export Development Agency will be launching its Direct Assistance Grant Scheme (DAGS) in Grenada on Thursday April 12, 2018.

The Direct Assistance Grant Scheme offers financial assistance to registered businesses, individuals and business support organizations with potential to export products and services.

The objectives of the scheme are as follows:-

  1. to increase exports to the Caribbean region and international markets;
  2. lower production costs;
  3. identify new sources of suppliers of raw materials and other inputs;
  4. increase productivity through training and personnel development;
  5. facilitates trademarks, intellectual property and copyright protection;
  6. reduce environmental impacts;
  7. capitalise on the benefits of the Economic Partnership Agreement (EPA), Caribbean Single Market Economy (CSME), CARICOM-Dominican Republic Free Trade Area and other bilateral and multilateral arrangements;
  8. foster intra-regional cooperation to enhance productivity and capitalize on economies of scale; and
  9. promote programmes which will impact on underdeveloped areas or disadvantage sectors within the region (e.g. rural area development and gender).

The activity will commence with a launch and remarks by key stakeholders including representatives from the Government of Grenada, European Union Delegation and Caribbean Export Development Agency.

Subsequent to the launch is a workshop where a representative from Caribbean Export Development Agency will demonstrate the application process for accessing the grant.

The venue is the Grenada Investment Development Corporation (GIDC), starting at 9:30 a.m. until 5:00 p.m.

For more details please call the Ministry of Economic Development, Trade and Planning via telephone numbers 4402101/4358889 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

The media houses are invited.

03 Apr 2018

ST. GEORGE’S GRENADA 29th March, 2018:  The Ministry of Economic Development, Trade and Planning, in collaboration with Caribbean Export Development Agency and the Grenada Investment Development Corporation will be hosting a seminar on Access to Finance; and a Link Caribbean Pitch Competition, on Friday April 13, 2018 at the Grenada Investment Development Corporation (GIDC).

The seminar is from 9:00 a.m. to 12:45 p.m. and the Pitch Competition from 1:45 p.m. to 4:30 p.m. These initiatives are expected boost export development in Grenada.

The aim of the seminar is to sensitize entrepreneurs and financial agents on the role of Small-Medium Enterprises (SMEs) to economic development, as part of the implementation of the National Export Strategy. The challenges faced by SMEs from local financial institutions will also be addressed.

The “Link Caribbean Pitch” Competition is being implemented by Caribbean Export Development Agency with support from the World Bank under INFODEV’s EPIC program. The programme’s aim is to discover potential entrepreneurs with executable and investable ideas, who are seeking financial and other support. The main objective is to develop an Angel Investing Ecosystem in the Caribbean.

In this regard, five pre-selected firms will be given fifteen minutes to pitch their business ideas to five Judges.  The winner will be awarded $5,000.00 to advance their business venture.

For more details please call the Ministry of Economic Development, Trade and Planning via telephone numbers 4402101/4358889 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

12 Mar 2018
ST. GEORGE’S GRENADA, MONDAY, MARCH 12, 2018, GIS: Prime Minister Dr. Keith Mitchell has announced that “significant gas and oil” have been found in the territorial waters of Grenada.

Prime Minister Mitchell’s announcement at a massive rally in St.Andrew’s late Sunday ends lingering speculation in Grenada’s hunt to find oil and gas.

The discovery was made by Russian outfit Global Petroleum Group (GPG) which has been undergoing an exploratory drilling campaign.

“After all the headaches, one Well was drilled; there were results that we wanted to confirm before we make a noise,” Prime Minister Mitchell announced.

“The report said that we have found significant gas and oil in the waters of Grenada in one Well so far” Dr. Mitchell stated to loud applause and cheering.

The Prime Minister also announced the finding of several more Oil Wells which he said offered more exciting prospects.

“You know what that means for your future, it means a lot for the future of this country,” the Prime Minister said.

“Sisters and brothers, one Well, we have several more wells which are even more exciting than the one they just found. In other words, Grenada can be a massive supplier of oil and gas”.

Prime Minister Mitchell has presided over a Government that has sparked an economic turnaround in Grenada in the last five year, making a robust claim for his party’s re-election in general elections carded form Tuesday, March 13th. 
11 Jan 2018
ST. GEORGE, GRENADA, JAN. 11, 2018, GIS: Prime Minister Dr. Keith Mitchell says Grenada is expected to be removed from the European Union Blacklist by the end of January.
 
The decision to remove Grenada, one of 17 countries blacklisted by the EU, is expected to follow a meeting of the Financial and Economic Unit of the OECD set for January 23rd.
 
On 5th December 2017, the Council approved and published conclusions containing an EU list of non-cooperative jurisdictions in taxation matters.
 
It said that Grenada did not sign or ratify the OECD Multilateral Convention on Mutual Administrative Assistance as amended and did not clearly commit to addressing these issues by 31 December 2018.
 
However, Prime Minister Mitchell says in any serious and objective situation, Grenada ought not to have been placed on the list initially, since the country has met all the conditions required.
 
“On January 23rd the Financial and Economic Unit of the OECD will be meeting after the response from Grenada and of course we pointed out the mistakes that were made,” Prime Minister Mitchell said.
“Grenada is expected to be removed before the end of January from that black list. So I think we would have gone through that process successfully”.
 
The Ministry of Finance had issued a statement saying Grenada made high level commitments, complete with timelines, to the EU Code of Conduct group by way of letters on the 17th and 28th November 2017.
 
Grenada’s commitments were in response to concerns raised by the OECD group regarding meeting all the criteria set up by the EU Council for Transparency and fairness in Taxation, and was well on track to doing so.
 
Prime Minister Mitchell said it was accepted that the decision was unfair.
 
“But the specific case of Grenada, we had asked for some communications sent to us so that we would move and deal with what we are supposed to do,” Dr. Mitchell said.
 
“And they took a very long time to send it, so since the black list came on they have sent the information and we then replied and like I said before the end of the month from indication in correspondent received last week. We expect to be release from that black list”.
29 Dec 2017

ST. GEORGE'S GRENADA 29th DECEMBER, 2017: Grenada was privileged to host a Mission of the Green Climate Fund (GCF) during the period 15th - 19th December, 2017 as part of a one week mission by the Fund to the Caribbean.

Other Caribbean Countries visited during the mission included Antigua & Barbuda, Dominica, Barbados and Haiti.

The objective of the Mission was to further advance the engagement of the Green Climate Fund (GCF) with Caribbean countries to build national capacity to accelerate direct access grant funding from the GCF for investments to reduce vulnerability to climate change and promote increased use of clean and renewable energy.

The GCF Team got the opportunity to meet with public and private sector officials to reviewed the draft country program and pipeline of projects and assess the country’s readiness for direct access to funding for national capacity development.

The Team expressed strong commitment to building National Capacity at the institutional, technical and professional level to ensure that Grenada, and other developing countries, can take ownership for actions and investments to build resilience to climate change and reduce carbon emissions. 

This, it is believed, will contribute to greater sustainability of these actions and ensure that the country benefit from a greater proportion of the funding provided.

The GCF Team agreed to support request from Grenada for additional funding for the following actions during 2018:

(a) To build national capacity with an annual disbursement of US$1 million through direct access to the GCF; A key component of this support is the setting up of a Climate Change Training Centre in Grenada in collaboration with local, regional and international institutions to provide certified training in climate change at the technical, vocational as well as professional levels. The trainings will target persons in the public and private sectors, as well as communities and civil society actors.  

The programme or courses would be accredited by a formal education centre or university and certificates from the programme/courses would be nationally, regionally and internationally recognized.

(b) To provide US$3 million to support Grenada’s national mitigation and adaptation planning process and priorities for actions to reduce vulnerability to climate change and promote increased use of renewable energy. This includes an initiative to develop the town of St. George’s as the first climate resilient- smart city in the Caribbean in line with the outcome of the public-private Caribbean Climate-Smart Coalition launched in December 2017.

These actions will also support the development and implementation of three major investment programs to build resilience, and promote investments in clean energy and energy efficiency in collaboration with the private sector.

The estimated cost of the required investments to reduce emission and build resilience to climate change in Grenada is estimated at over US$400 million. 

21 Dec 2017
ST. GEORGE, GRENADA, DEC. 21, 2017 - More Imani trainees will be incorporated within the Ministries of Agriculture and Fisheries in 2018, as noted by Youth Minister, Senator Pamela Moses, during her presentation at the 2018 Budget Senate Debate.

The partnership between the Ministries will be strengthened through the Ministry’s Empowerment Program which seeks to provide training to young men for 18 months. Trainees will be assigned to fishermen and experts, in other important areas.
“Fishing is one of the areas. So, we’ll be assigning those young men to fishermen, where they would be able to go out there and learn how to fish - trawlers, small fishing boats – everywhere,” she said.

Moses noted that the area of fish processing will be another priority area for engagement.

“We are getting that a lot, we’re a Government that listens, you know,” she said.

It is the hope that, at the end of the Empowerment Program, Government can assist the participants to become entrepreneurs.

“We are pushing them towards employing themselves. That young man who went out with the fishermen, at the end of the programme, we’re going to help him become a fisherman himself. That young man, who did the farming programme, at the end of it all, that young man would be encouraged to build his own poultry unit and start rearing his own chicken,” the Senator explained.

“We’re going to help him find markets in the hotels and he’s going to understand what it means to have money in his pocket, at the end of this programme, Mr. President, the young man who did landscaping, he would have amassed a savings, it would be a mandatory savings that will be taken from all of their stipends – a new approach. 
 
Mr. President – a new approach, we will take a savings from their stipend and at the end of the program we’re going to match the savings with a loan, through our Grenada Development Bank, and they will be able to purchase the equipment, or that which they need, to start their own business and that will be the exit for that programme. It would run for approximately one year, Mr. President.” 

The program has already been launched and will commence in 2018.
20 Dec 2017
ST. GEORGE’S, GRENADA, WEDNESDAY, DECEMBER 20th, 2017: In accordance with Section 229 of the Public Finance Management Regulation of 2015, the Annual Board of Survey to examine Government’s Treasury Cash and Bank Balances, will be conducted on the 1st working day of the New Year, that is, Tuesday, January 2nd, 2018 in the Government Ministries/Departments, including the Revenue Offices, the Customs Division and the Treasury Cash Office in Grenada and Carriacou.
 
The public is advised that as a result of the survey being conducted, no (Government) Cash transactions will take place between the close of business at the end of the year (December 29th and 30th, 2017) and the completion of the survey, on January 2nd, 2018 (Financial rule #233).
 
This means that Revenue Offices, the Customs Division and the Treasury Cash Office will be closed on (Tuesday 1st January, 2018) morning to facilitate the survey, but will reopen upon completion of the survey during the course of the day.
 
The Ministry of Finance apologises for any inconveniences. 
20 Dec 2017

Fellow Grenadians, friends, visitors, well wishers, all...

The Christmas story is forever a reaffirmation of God's great love for all of us—a love he demonstrated so selflessly by sending his Son to transform the world, to bring hope and salvation.

While we celebrate the birth of Jesus Christ on Christmas Day, we also know that Christmas is more than just December 25th. Christmas is a joyous, wonderful feeling that is captured in the Yuletide season, and often felt throughout the year in moments of wonder, gratitude, joy and brotherhood.

For us here in Grenada, we can all testify to that great feeling during the last several years, as Grenadians and friends of Grenada from all walks of life, rallied together to restore our country to a sound economic foundation. We rallied our way back from record high unemployment and a sullied reputation for fiscal management.

Together, we have made Grenada more respected regionally and internationally, and we have positioned ourselves as a small state leader in the fight to protect our environment and help to preserve this planet for the inheritance of our children and grandchildren.

Grenada is the strongest and most prosperous it has been in the last decade and we must continue to build on the successes.

Brothers and sisters, Christmas is indeed here. We see it as hope has overcome the dark days of despair; as testimonies have replaced doubt, and as together, we have unified our Nation.

I therefore urge you to join hands and continue to celebrate this season all across our Tri-Island State. Let our joys mirror in the faces of our children and in the grateful eyes of our senior citizens, our sick, our poor and our vulnerable. Let us leave no one behind during this holiday season.

Let the true spirit of “Grenadianness” resound throughout this land in the catchy rhythms, delicious cuisine, brilliant colors, bright lights and the joys of giving.

And most of all, as we celebrate on earth, let us remember the reason for Christmas; let us celebrate the birth of our Lord and Savior, Jesus Christ, through whom we can do all things as He strengthens us.

I extend my very best wishes for the continued safety of our shores, protection of all our people, and overall peace on earth, and goodwill toward men.

May God bless this beautiful Nation of Grenada, Carriacou and Petite Martinique.

Merry Christmas and a bright and prosperous 2018 to all.

18 Dec 2017
ST. GEORGE’S, GRENADA, MONDAY 18TH DECEMBER, 2017 – GIS: Nutmeg farmers could be looking forward to a bright Christmas this year, with the announcement that they will receive bonus payments from a total of one million dollars.

That announcement by GCNA Chairman Leo Cato during the Association’s General Meeting last Thursday.

He says with 2017 being a year of challenges and successes, they must place greater focus on quality and diversification.
“Going forward in 2018 quality must be a major issue for us, every farmer must take this very seriously, it means the very survival of the association.  Going forward in 2018 we are therefore going to diversify our business”, stated Cato.

Agriculture Minister Hon. Yolande Bain Horsford pointed to some of the major achievements of the GCNA which included making a surplus of 1.240 million EC dollars and clearing an overdraft facility, and increasing regional markets for Nutmegs.
She says the achievements are a strong foundation on which they can build a more robust nutmeg industry.

Looking ahead, she says the GCNA needs to, among others, create a special fund to act as a buffer to support advance prices when world market prices are low.

The Agriculture Minister reminds the association on the importance of “placing even greater emphasis in the area of food safety, as there is a move a foot by the European Union and the United States of America to place more stringent requirements on exporters to matters as it relates to food safety, traceability etc. it is therefore crucial that the GCNA facilities must be configured to enhance food safety in Nutmeg”.
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